As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the India Fruit and Vegetable Processing industry.
New Industry Report on India Fruit and Vegetable Processing Market Status and Prospects [2023-2032] has been released. The report is 100 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request Free a Sample Copy
In FY 2019, 8.31 Million tons of fruits and vegetables were processed in India, which is expected to reach 16.39 Million tons by 2024, expanding at a CAGR of 14.84% during the FY 2020-FY 2024 period.
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India is the worlds second-largest producer of fruits and vegetables. To reduce wastage of fresh fruits and vegetables, and to add value to them, processes like canning, dehydration, pickling, provisional preservation and bottling have been introduced. However, percentage of processing of fruits and vegetables is currently less than 3% as compared to countries like China (23%), the United States (65%) and Philippines (78%).
The Indian fruit and vegetable processing industry experiences a conducive growth environment, owing to the abundant supply of raw materials and favorable government policies like Pradhan Mantri Kisan Sampada Yojana (PMKSY). Rising consumer affordability and rapid urbanization resulted in lifestyle changes, following which the preference for processed fruits and vegetables increased substantially.
Nevertheless, several factors like the lack of required infrastructure, and higher cost of processed fruits and vegetables are the major hurdle to the growth of the industry.
The industry is witnessing an increased application of innovative technology to increase productivity. Artificial intelligence (AI) is being implemented to examine fresh fruits and vegetables for defects, and accurately predict the exact date of decay. Nanotechnology is aiding in maintaining the freshness of perishables. Furthermore, grading robots are used to evaluate the quality of the produce to minimize manual errors. Cold plasma, high-pressure processing, irradiation and radio frequency identification (RFID) are technologies that are mostly used in the fruit and vegetable industry in India.
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The market is highly fragmented with a more significant presence of the unorganized sector, mainly in the pickle producing segment. The organized industry comprises large and established players with a diverse product portfolio. A few of the significant players include Dabur India Limited, ITC Limited, Hindustan Unilever Limited and Mother Dairy Fruit Vegetable Private Limited. The industry is witnessing a rise in the number of foreign players as well, owing to significant growth opportunities.
Some of the tech start-ups in the Indian fruit and vegetable industry include Ecozen Solutions Private Limited, Rakyan Beverages, Raav Techlabs Private Limited and Nutricane Beverages Private Limited.
Dabur India Limited
Freshtrop Fruits Limited
Hindustan Unilever Limited
Tai Industries Limited
Capricorn Food Products India Limited
Cremica Food Industries Limited
Fieldfresh Foods Private Limited
Mother Dairy Fruit Vegetable Private Limited
Shimla Hills Offerings Private Limited
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for India Fruit and Vegetable Processing. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for India Fruit and Vegetable Processing is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the India Fruit and Vegetable Processing Market Report:
- What is the projected size of the India Fruit and Vegetable Processing market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the India Fruit and Vegetable Processing industry?
- What are the major market trends that are affecting the expansion of the India Fruit and Vegetable Processing market?
- What obstacles must be overcome in order to achieve sustained growth in the India Fruit and Vegetable Processing market?
- What opportunities and threats do vendors in the India Fruit and Vegetable Processing Market face?
- What are the raw materials and manufacturing equipment used in the production of India Fruit and Vegetable Processing, and what is the manufacturing process?
- What are the different types and applications of India Fruit and Vegetable Processing, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the India Fruit and Vegetable Processing market?
- What factors are driving the growth of the India Fruit and Vegetable Processing market in the top regions worldwide?
- Who are the major players in the India Fruit and Vegetable Processing market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the India Fruit and Vegetable Processing market?
- What are the main findings of a five forces analysis of the India Fruit and Vegetable Processing market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our India Fruit and Vegetable Processing Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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